M3 Money Supply at 5.0% in March

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Wednesday, Apr 27 2016

The annual growth rate of the broad monetary aggregate M3 stood at 5.0% in March 2016, after 4.9% in February, averaging 5.0% in the three months up to March. This was in line with the market forecasts.The annual growth rate of the narrower aggregate including currency in circulation and overnight deposits (M1) stood at 10.1% in March, compared with 10.2% in February.

The annual growth rate of short-term deposits other than overnight deposits (M2-M1) stood at -2.5% in March, compared with -2.6% in February. The annual growth rate of marketable instruments (M3-M2) was less negative at -1.0% in March, from -1.9% in February.

Euro is currently being traded few points below 1.1320 level. Pair is likely to find support around 1.1250 handle and resistance above 1.1350 level.

More in this category: « Australian CPI fell 0.2% in Q1 UK GDP grew by 0.4% »

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